How to Calculate Markup Price for Selling a Product

How can a company calculate the selling price of a product after marking up the cost price by a certain percentage?

Calculating Markup Price for Selling a Product

Markup price is the additional amount added to the cost price of a product to determine its selling price. To calculate the selling price after marking up the cost price by a certain percentage, follow these steps:

  1. Determine the cost price: This is the original price at which the product was purchased or manufactured.
  2. Calculate the markup amount: Multiply the cost price by the markup percentage. This will give you the additional amount to be added to the cost price.
  3. Add the markup amount to the cost price: This will give you the selling price of the product after the markup.
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